Explain how to solve on a financial calculator

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Reference no: EM13267696

A bond with a $1,000 face value and an 8% annual coupon pays interest semiannually. The bond will mature in 15 years. The yield to maturity is 11%. The price of the bond should be

a.$784.27

b.$1,259.38

c.$781.99

d.$1,000.00

Please show work and explain how to solve on a financial calculator.

Reference no: EM13267696

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